$248M Ex-Commonwealth Father-Son FA Duo Goes Indie

A pair of financial advisors have left Commonwealth Financial Network to launch an independent registered investment advisory firm in Wisconsin.

Advisors Robert Luedtke and his son Austin Luedtke have founded Adell, WI-based Luedtke and Associates after previously being affiliated with Commonwealth since 2021, per their BrokerCheck profiles.

The duo managed about $248 million in assets under management, across 1,320 accounts, according to the firm’s latest Form ADV updated in January. 

The firm, which began operating as an RIA on October 1, has chosen Charles Schwab to serve as its custodian, per the firm’s Form ADV Part 2 Brochure. 

As part of the firm’s launch, Luedtke and Associates has selected Advisor360, a digital wealth management platform, to serve as its primary technology platform. 

Additionally, the firm specializes in wealth management-related services, including estate and tax planning, retirement planning, insurance services, and cash flow planning. 

“Partnering with Advisor360° allows us to operate with confidence, knowing we have a partner that understands the realities of advisory firms and is committed to continuous innovation,” Rob Luedtke said.

Luedtke stated that he decided to launch his own firm because of the growing demand for more “flexibility, control, and scalability,” without having to compromise “quality service or operational excellence.” 

In December, Advisor360 launched an AI-native Wealth Operating System, which is aimed towards financial advisory firms of any size, ranging from solo shops to large independent broker-dealers or RIAs.